2022-05-16T08:54:38-05:00 2021-06-30 363990892 Capin Crouse LLP 5605 N MacArthur Blvd Suite 210 Irving TX 75038 990 2020-07-01 954663290 The King's University KING 8175523700 2121 East Southlake Blvd Southlake TX 76092 Ashley Green CFO 8175523700 2022-05-16 1 Ashley Green 999009999 Ted R Batson Jr P00721951 5055022746 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Dr Jon Chasteen 2121 East Southlake Blvd Southlake TX 76092 13010836 0 X www.tku.edu X 1997 CA Prepare and educate men and women for effective leadership and Christ-like servanthood. 12 10 0 12 0 0 6307712 5862135 6176843 6505465 145086 31030 -136231 -84046 12493410 12314584 645413 1260306 0 0 0 0 72000 72000 652255 8996279 9278303 9713692 10610609 2779718 1703975 11657015 15085733 821893 1205369 10835122 13880364 X The King's University is a higher education and ministry leadership training center that exists to provide biblically and theologically sound preparation that equips men and women to become the next generation of Christ-like, Spirit-empowered, transformational leaders for the global church. 0 0 6813603 1260306 6505465 The University provides an undergraduate education and graduate level seminary education with a student enrollment of over 900: 421 undergraduate and 480 graduate. Degree programs include Associate of Christian Ministries, Associate of Worship Leadership, Bachelor of Biblical & Theological Studies (Theological Studies, Music & Worship, Messianic Jewish Studies), Bachelor of Biblical Counseling, Bachelor of Christian Ministries, Bachelor of Intercultural Studies (Evangelism & Missions), Bachelor of Media Arts, Bachelor of General Christian Studies, Bachelor of Worship Leadership, Master of Divinity (Messianic Jewish Studies, Theology), Master of Marriage & Family Therapy (MMFT) (Counseling), Master of Practical Theology (Ministry), Master of Organizational Leadership (Leadership) and Doctoral of Ministry. 6813603 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 1 886 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 12 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Ashley Green 8177221700 2121 East Southlake Blvd Southlake TX 76092 X Dr Jon Chasteen President 39.00 1.00 X X 0 241885 157791 Dr Irini Fambro Trustee 0.50 0.50 X 0 3300 0 Dr Robert Morris Chancellor/Trustee 0.50 0.50 X X 0 0 0 Pastor Kevin Grove Chairman/Trustee 3.00 1.00 X X 0 0 0 Dr Kenneth Ulmer Vice Chair/Trustee 0.50 0.50 X X 0 0 0 Dr Sterling Brackett Trustee 0.50 0.50 X 0 0 0 Larry Dantzler Trustee 0.50 0.50 X 0 0 0 Pastor Dan Hicks Trustee 0.50 0.50 X 0 0 0 Dr Howard Kaloogian Trustee 0.50 0.50 X 0 0 0 Dennis Newman Trustee (Part Year) 0.50 0.50 X 0 0 0 Rev Robert Stearns Trustee 0.50 0.50 X 0 0 0 Dr Jack Young Trustee 0.50 0.50 X 0 0 0 Pastor Tom Lane Trustee 4.50 0.50 X 0 0 0 Ashley Green CFO 39.00 1.00 X 0 134427 23046 Dr Jack Hayford Chancellor Emeritus 3.00 1.00 X 0 0 0 Dr David Cole Provost/CAO 39.00 1.00 X 0 129744 50498 Dr Mitchell Land Dean of Media Arts 39.00 1.00 X 0 139676 6311 Rhonda Davis VP Enrollment Management 39.00 1.00 X 0 116010 9164 0 765042 246810 0 0 1 0 0 182036 1868994 3811105 5862135 Tuition and fees 611310 6228650 6228650 Auxiliary revenue 900099 276815 276815 6505465 139773 139773 436575 545318 -108743 -108743 -108743 46495 182036 139150 -92655 -92655 20393 11784 8609 8609 12314584 6505465 0 -53016 X 1260306 1260306 74971 74971 34042 34042 72000 72000 7400006 4663618 2230768 505620 154808 50178 104630 505130 192960 277186 34984 255308 77556 168992 8760 334200 223298 90476 20426 18984 8869 8030 2085 128016 88297 31339 8380 70468 70468 Bad debt expense 145358 145208 150 Educational Programs 114653 102413 12240 Accreditation expense 42359 900 41459 10610609 6813603 3144751 652255 1377277 2630205 1297817 1867236 419020 374792 21435 21504 122192 140186 3013530 1936845 610254 1076685 7439116 8700270 369904 274855 11657015 15085733 470166 491389 201134 557586 150593 156394 821893 1205369 X 6051275 6966404 4783847 6913960 10835122 13880364 11657015 15085733 X 1703975 1358120 -16853 X 0 1 X 1 1 1 X 2935469 2415529 3366098 6307712 5862135 20886943 2935469 2415529 3366098 6307712 5862135 20886943 20886943 64889 102804 175688 121681 139773 604835 15798 36100 46495 98393 21590171 32147440 0.96740 0.96890 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Event Fees - 2018 Amount: $ 15,798. 2019 Amount: $ 36,100. 2020 Amount: $ 46,495. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. Schedule A, Part II, Columns (a) - (e): Per the instructions public support is measured using a 5-year computation period that includes the current and four prior tax years (including short years). The organization had a short year in 2018. The below chart clarifies the information represented in Schedule A, Part II: Column (a) - Fiscal year ending 7/31/2017 Column (b) - 11 month period ending 6/30/2018 Column (c) - Fiscal year ending 6/30/2019 Column (d) - Fiscal year ending 6/30/2020 Column (e) - Fiscal year ending 6/30/2021 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3898395 132348 741600 65669 65000 4641674 2442965 1435760 127097 40370 67057 3898395 2339871 88308 96494 35391 46317 2442965 2148789 121613 119930 15601 34860 2339871 2054277 58140 141957 59296 46289 2148789 1.00000 0 0 240963 81358 159605 659515 287382 372133 2113052 1568105 544947 1076685 Annuity obligations 106112 Trust liability 50282 156394 13379109 1358120 832630 134081 2324831 11054278 1260306 1260306 12314584 10333867 832630 150934 983564 9350303 1260306 1260306 10610609 Part V, Line 4: The endowment funds are used for the funding of a professorial chair and scholarships. Part XI, Line 2d - Other Adjustments: Direct fundraising events expenses reported on Pt. VIII 139,150. Change in value of split interest agreement -16,853. Cost of goods sold 11,784. Part XI, Line 4b - Other Adjustments: Scholarships and discounts reported with net tuition and fees 1,260,306. Part XII, Line 2d - Other Adjustments: Direct fundraising events expenses reported on Pt. VIII 139,150. Cost of goods sold 11,784. Part XII, Line 4b - Other Adjustments: Scholarships and discounts reported with net tuition and fees 1,260,306. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization publicized its racially nondiscriminatory policy on the homepage of its website at all times during its tax year in a manner reasonably expected to be noticed by visitors. All solicitations for students contain a statement of the University's racially nondiscriminatory policy, as well as the student catalog available on the University's website. Schedule E, Part I, Line 6 The University receives funds for the Federal Direct Student Loan Program, Federal Pell Grants, Federal Supplemental Educational Opportunity Grant Program, Federal Work-Study Program, the Higher Education Emergency Relief Fund and the PPP Loan program. X X X X X 1 Lee Mimms 3909 Via Picaposte Palos Verdes Estates CA 90274 Donor relations consulting 0 200011 72000 128011 200011 72000 128011 CA TX 2020 Fall Dinner 200011 169711 30300 21623 24909 67455 2020 Golf Tournament 28520 12325 16195 5440 19541 182 228531 182036 46495 5440 41164 24909 67637 139150 -92655 1 Scholarships/Financial Aid 1190 1091721 HEERF Grants 261 168585 Part I, Line 2: For individual grants, students submit an application for financial aid to the financial aid office. Applications are evaluated by the financial aid office and students are notified of awards they are to receive. The financial aid is applied directly against tuition. No cash changes hands. Scholarships are not refunded should the student fail to complete the required credit hours. X 1 1 X X X 0 0 0 0 0 0 0 1 0 Dr Jon Chasteen President 0 240635 0 1000 0 250 0 28000 0 130042 0 399927 0 0 Dr David Cole Provost/CAO 0 112214 0 16000 0 1530 0 6628 0 45402 0 181774 0 0 Ashley Green CFO 0 107363 0 26000 0 1064 0 0 0 23229 0 157656 0 0 Part I, Line 1a Pursuant to Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. Dr. Jon Chasteen, President, and Dr. David Cole, Provost, met the qualifications for and received a ministerial housing allowance during the tax year. Part I, Line 7 There were various discretionary bonus payments made during the fiscal year which were determined by the board of directors and provided to officers and employees as approved. Rebecca Bauer Family member of Jack Hayford, Officer 19470 Employee compensation 0 Form 990, General The King's University (TKU) was originally incorporated in California in 1997, but relocated to Texas in 2014. In 2013, TKU created a separate Texas tax-exempt organization (TKU-TX) and TKU is in the process of transitioning to a parent and subsidiary relationship wherein California is a supporting entity of the Texas entity. Therefore, TKU files two separate 990's, one for California and one for Texas. For filing purposes, the Texas Form 990 reports all salary expenses for employees. The California Form 990 reports all educational activity and includes salary expenses as an employee lease back. Both organizations share the same program accomplishments reported on Part III and the same board reported on Part VII. Form 990, Part VI, Section A, line 1 The Executive Committee is composed of the Chairman, Vice-Chairman, Chancellor and President. The Committee is authorized to exercise any and all powers of the board of trustees, except any actions prohibited by law, the Articles and the Bylaws of the corporation. The Committee reports its activities and affairs to the board of trustees at the next meeting. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm and is first reviewed in detail by the Director of Finance and Chief Financial Officer. A full copy of the 990 is then provided to the board members prior to being filed with the IRS. Form 990, Part VI, Section B, line 12c The conflict of interest policy requires each trustee and officer to disclose actual or possible conflicts of interest on an annual basis. The Executive Team, which consists of the President and two Vice Presidents, evaluates each disclosure to determine if an actual conflict exists; in the case that a member of the Executive Team is involved in the disclosure, the board will make the determination. Following the disclosure, the responsible person recuses him or herself from the discussion and vote on the transaction or arrangement involving the possible conflict of interest. The Chairperson has the authority to appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the board and/or Executive Team shall determine whether the university can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. Form 990, Part VI, Section B, line 15 Compensation for the President and other officers is determined by the Executive Committee of the board. Comparability data is examined annually, including Form 990's from similar universities. Compensation deliberations are recorded in the board minutes. Form 990, Part VI, Section C, line 19 The organization's conflict of interest policiy, governing documents, and financial statements are available upon request. Form 990, Part VII, Section A and Sch. J, Part II Compensation reported in Part VII, column D and Schedule J, Part II, column B is the amount reported on the individual's W-2, box 1 or 5 (whichever amount is greater) per the IRS instructions. In the case of minister's compensation when box 5 of the W-2 is not applicable, box 1 compensation is used. Employee deferrals to qualified retirement plans are normally captured in box 5, not box 1 of Form W-2. For reporting purposes we have included the minister's retirement plan deferrals in Part VII, column F and Schedule J, Part II, column C. Form 990, Part IX, line 11g Other Professional Services: Program service expenses 205,144. Management and general expenses 261,561. Fundraising expenses 2,954. Total expenses 469,659. Reimbursement for employees salaries and wages: Program service expenses 4,458,474. Management and general expenses 1,969,207. Fundraising expenses 502,666. Total expenses 6,930,347. Form 990, Part XI, line 9: Change in value of split interest agreement -16,853. The King's University 2121 East Southlake Blvd Southlake TX 76092 464671972 Private school TX 501(c)(3) Line 2 The King's University (TX) 1 ChurchEd 2121 East Southlake Blvd Southlake TX 76092 843384792 Educational resources TX 501(c)(3) Line 7 The King's University (TX) 1 Charitable remainder unitrust (1) Hold assets & remit income to grantors CA The King's University T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 The King's University N The King's University O The King's University P 6930347 Cost